Livestock Improvement Corporation Reports Strong Half-Year Results, Bolstered by Capital Raise

Highlights:

• Livestock Improvement Corporation (NZX: LIC) achieved an 8% increase in revenue to $185.1 million in
• the first half of its financial year.
• Net profit after tax surged nearly 35% to $39.1 million, and underlying earnings grew 17% to $33.7 million.
• The company raised capital to support innovation, scale production, and enhance its R&D efforts, strengthening its position in the agricultural sector.

Robust Revenue and Profit Growth

New Zealand Exchange-listed Livestock Improvement Corporation (NZX: LIC) reported a robust financial performance for the first half of its fiscal year, driven by improved economic conditions and increased farmer demand for its innovative products and services. At the time of writing, LIC announced an 8% increase in revenue to $185.1 million for the six months ending November 30. Net profit after tax surged nearly 35% to $39.1 million, while underlying earnings rose 17% to $33.7 million.

The company attributed its growth to the popularity of its offerings, including fresh sexed semen, GeneMark Genomics, and an expanded suite of services designed to enhance farming productivity.

Focus on Capital Raising and Investment

In addition to strong financial results, LIC highlighted its recent efforts to bolster its capital reserves to sustain and expand its operations. The capital raise supports investment in the company’s cutting-edge solutions, enabling LIC to meet the evolving needs of farmers in a challenging global market. The funds are being used to scale up production capabilities, enhance R&D efforts, and invest in technology infrastructure to improve service delivery.

Outlook and Strategic Growth Plans

With its strengthened financial position, LIC aims to continue driving innovation in livestock management. The company’s focus remains on delivering value to farmers through advanced genetic solutions and precision farming tools. LIC also indicated plans to expand its product offerings further, ensuring long-term growth and stability.

LIC’s strategic emphasis on innovation and capital deployment highlights its commitment to remaining a leader in the agricultural industry. By aligning its operations with the needs of its customers, LIC is well-positioned for sustainable growth in the future.

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